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v3.25.2

Short-Term Borrowings and Long-Term Debt (Tables) | 12 Months Ended
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May 31, 2025
Debt Disclosure [Abstract] |
Schedule of Long-term Debt Instruments | Long-term debt consisted of the following obligations:
(In millions) |  | May 31, 2025 |  | June 1, 2024
Syndicated revolving line of credit, due April 2030 |  | $ | 330.8 |  |  | $ | 390.0 |
Term Loan A, 6.0768%, due April 2030 |  | 400.0 |  |  | 345.0 |
Term Loan B, 6.4413%, due July 2028 |  | 603.1 |  |  | 609.4 |
Supplier financing program |  | 2.0 |  |  | 2.0 |
Finance lease liability |  | 1.1 |  |  | 1.4 |
Total debt |  | $ | 1,337.0 |  |  | $ | 1,347.8 |
Less: Unamortized discount and issuance costs |  | (10.4) |  |  | (12.6) |
Less: Current debt |  | (16.0) |  |  | (43.5) |
Long-term debt |  | $ | 1,310.6 |  |  | $ | 1,291.7 |
Schedule of Line of Credit Facilities | Available borrowings under the syndicated revolving line of credit were as follows for the periods indicated:
(In millions) |  | May 31, 2025 |  | June 1, 2024
Syndicated revolving line of credit borrowing capacity |  | $ | 725.0 |  |  | $ | 725.0 |
Less: Borrowings under the syndicated revolving line of credit |  | 330.8 |  |  | 390.0 |
Less: Outstanding letters of credit |  | 12.0 |  |  | 12.7 |
Available borrowings under the syndicated revolving line of credit |  | $ | 382.2 |  |  | $ | 322.3 |
Schedule of Maturities of Long-term Debt | Annual maturities of debt for the five fiscal years subsequent to May 31, 2025 are as shown in the table below.
(In millions) |
2026 | $ | 16.0 |
2027 | 24.1 |
2028 | 26.6 |
2029 | 612.0 |
2030 | 658.3 |
Thereafter | — |
Total | $ | 1,337.0 |

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- Definition Tabular disclosure of short-term or long-term contractual arrangements with lenders, including letters of credit, standby letters of credit, and revolving credit arrangements, under which borrowings can be made up to maximum amount as of any point in time conditional on satisfaction of specified terms before, as of and after the date of drawdowns on the line. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Topic 210 -SubTopic 10 -Name Accounting Standards Codification -Section S99 -Paragraph 1 -Subparagraph (SX 210.5-02(22)(b)) -Publisher FASB -URI https://asc.fasb.org/1943274/2147480566/210-10-S99-1 Reference 2: http://fasb.org/us-gaap/role/ref/legacyRef -Topic 210 -SubTopic 10 -Name Accounting Standards Codification -Section S99 -Paragraph 1 -Subparagraph (SX 210.5-02(19)(b)) -Publisher FASB -URI https://asc.fasb.org/1943274/2147480566/210-10-S99-1 + Details
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